TabTrader’s TTT token starts trading today on cryptocurrency exchange Gate.io, where its Initial DEX Offering (IDO) has been oversubscribed at 60,000% of the target.
Founded in 2016, Amsterdam-based TabTrader offers an exchange aggregation platform that bundles 40 cryptocurrency exchanges, including both centralized exchanges such as Coinbase and FTX, and decentralized exchanges (DEXs) like Uniswap and Sushiswap.
The TTT token will power the platform, and has a multitude of uses: token holders will be able to use TTT for in-app purchases, to pay for transaction fees, and participate in governance.
"The TTT token opens up a lot of possibilities to grow TabTrader in terms of governance, user engagement, and new user acquisition,” Kirill Suslov, co-founder and CEO of TabTrader, told Decrypt.
We are excited😜 to announce the launch of our own #TTT #token on @solanium_io and AcceleRaytor on December 1.
More info https://t.co/Oav6BgXz1d and ⬇️ pic.twitter.com/vdZAtqINyp
— TabTrader (@tabtraderpro) November 26, 2021
TabTrader has ambitious plans for TTT, including the possibility of running trading competitions with prizes offered in the native token. Another plan is to allow trade mining, which would allow users to receive a token per each trade they make on the platform.
TTT made its debut yesterday on Solana launchpads Solanium and Raydium AcceleRaytor. “Some technical features—such as server-side API calls—that were not even an option just a year ago due to high costs are now possible because Solana is such a cheap network to use,” Suslov said.
Interest in the launch has been "unprecedented," said Suslov, with the Solanium launchpad oversubscribed and the Gate.io and Raydium launches collecting the largest amount of committed capital from participants in the history of both launchpads.
Distinguishing itself from most other products in the crypto industry, TabTrader’s a mobile-first platform, though it’s also launched a browser-based desktop terminal in beta and has plans to expand further onto desktop in the future.
That mobile bet has paid off for the platform: TabTrader has more than 400,000 active users, with particularly strong presences in Europe and Asia, according to the company’s report.
“We started on mobile because our mission is to allow everyone in the world to invest,” said Suslov. After all, the majority of Internet users around the world are online thanks to mobile phones, and many don’t even have laptops.”
As part of that mission to introduce new users to crypto, TabTrader is part of a new generation of crypto products that are overturning the industry’s reputation for clunky, inaccessible interfaces. It’s created a streamlined UX that combines a user-friendly design with the data precision that keen traders require, along with trader-friendly features such as price alarms.
That doesn’t mean it’s straying from the core tenets of cryptocurrency, though; TabTrader is a non-custodial platform that enables users to retain full control over their funds. That’s because the platform only aggregates crypto prices for users and provides them with a gateway to buy crypto; the platform itself doesn’t take control over user funds at any point.
TabTrader’s free to use, but users can also switch to PRO by opting for a $12 per-month subscription. PRO is ad-free, has lower trading limitations, and unlocks advanced technical indicators. The platform makes money from subscriptions and also by picking up rebate fees from exchanges as users buy crypto through the app. That keeps the 20-strong team going.
TabTrader has also been boosted by a recent infusion of cash from a $5.8 million raise of Series A funding from investors including 100X Ventures, Hashkey Capital, Spartan Capital, SGH Capital, SOSV, and Artesian Venture Partners.
As for the TTT token, further listings, partnerships and product launches are set to be announced "in the coming weeks," said Suslov, with a "massive retroactive airdrop" in development as well.
TabTrader is available to download on the Apple App Store and the Google Play Store. Head to the TabTrader Discord for all the latest news and discussion.
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